Xilinx, Inc. (XLNX) Expected to Post Quarterly Sales of $770.84 Million

Brokerages predict that Xilinx, Inc. (NASDAQ:XLNX) will report $770.84 million in sales for the current fiscal quarter, Zacks reports. Eight analysts have issued estimates for Xilinx’s earnings, with estimates ranging from $769.97 million to $774.87 million. Xilinx reported sales of $631.19 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 22.1%. The company is scheduled to issue its next earnings results on Wednesday, January 23rd.

On average, analysts expect that Xilinx will report full-year sales of $2.98 billion for the current fiscal year, with estimates ranging from $2.97 billion to $2.99 billion. For the next fiscal year, analysts forecast that the company will post sales of $3.26 billion, with estimates ranging from $3.10 billion to $3.36 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that that provide coverage for Xilinx.

Xilinx (NASDAQ:XLNX) last issued its quarterly earnings results on Wednesday, October 24th. The programmable devices maker reported $0.87 EPS for the quarter, beating analysts’ consensus estimates of $0.76 by $0.11. The firm had revenue of $746.25 million for the quarter, compared to analysts’ expectations of $710.33 million. Xilinx had a return on equity of 34.05% and a net margin of 21.33%.

Several research analysts have weighed in on the stock. Zacks Investment Research upgraded shares of Xilinx from a “hold” rating to a “buy” rating and set a $77.00 target price on the stock in a research report on Friday, October 26th. BidaskClub raised shares of Xilinx from a “hold” rating to a “buy” rating in a research note on Tuesday, October 16th. BMO Capital Markets lifted their price objective on shares of Xilinx from $80.00 to $90.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 3rd. Needham & Company LLC assumed coverage on Xilinx in a research note on Thursday, September 27th. They set a “buy” rating and a $100.00 target price for the company. Finally, Cowen assumed coverage on Xilinx in a report on Friday, September 7th. They issued a “market perform” rating and a $81.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the stock. The company has an average rating of “Buy” and an average price target of $82.50.

In other news, insider Vincent Tong sold 40,000 shares of the business’s stock in a transaction dated Wednesday, October 31st. The stock was sold at an average price of $84.38, for a total value of $3,375,200.00. Following the transaction, the insider now directly owns 30,223 shares in the company, valued at $2,550,216.74. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Emre Onder sold 1,734 shares of the business’s stock in a transaction dated Monday, September 17th. The shares were sold at an average price of $77.15, for a total value of $133,778.10. Following the completion of the transaction, the senior vice president now owns 1,419 shares in the company, valued at $109,475.85. The disclosure for this sale can be found here. Insiders have sold 42,734 shares of company stock worth $3,586,988 over the last quarter. 0.16% of the stock is owned by company insiders.

Several institutional investors have recently made changes to their positions in XLNX. Livingston Group Asset Management CO operating as Southport Capital Management purchased a new position in shares of Xilinx in the third quarter valued at about $108,000. Itau Unibanco Holding S.A. purchased a new position in shares of Xilinx in the second quarter valued at about $123,000. ClariVest Asset Management LLC purchased a new position in shares of Xilinx in the second quarter valued at about $149,000. Lucia Wealth Services LLC purchased a new position in shares of Xilinx in the third quarter valued at about $160,000. Finally, Psagot Investment House Ltd. lifted its position in shares of Xilinx by 57.3% in the third quarter. Psagot Investment House Ltd. now owns 2,042 shares of the programmable devices maker’s stock valued at $164,000 after acquiring an additional 744 shares in the last quarter. Institutional investors and hedge funds own 88.38% of the company’s stock.

Shares of Xilinx stock opened at $87.26 on Friday. The stock has a market capitalization of $21.89 billion, a P/E ratio of 30.83, a P/E/G ratio of 2.77 and a beta of 0.86. Xilinx has a twelve month low of $62.27 and a twelve month high of $91.17. The company has a debt-to-equity ratio of 0.49, a quick ratio of 4.00 and a current ratio of 4.26.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 4th. Investors of record on Tuesday, November 13th will be given a dividend of $0.36 per share. The ex-dividend date of this dividend is Friday, November 9th. This represents a $1.44 annualized dividend and a yield of 1.65%. Xilinx’s dividend payout ratio (DPR) is presently 50.88%.

About Xilinx

Xilinx, Inc designs and develops programmable devices and associated technologies worldwide. Its programmable devices comprise integrated circuits (ICs) in the form of programmable logic devices (PLDs), such as programmable system on chips, and three dimensional ICs; adaptive compute acceleration platform; software design tools to program the PLDs; software development environments and embedded platforms; targeted reference designs; printed circuit boards; and intellectual property (IP) core licenses covering Ethernet, memory controllers, Interlaken, and peripheral component interconnect express interfaces, as well as domain-specific IP in the areas of embedded, digital signal processing and connectivity, and market-specific IP cores.

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